ChatGPT Creator’s Losses Cross $540 Million And To Increase Further

The losses of Microsoft-backed OpenAI, the developer behind highly-successful AI chatbot ChatGPT, reportedly swelled to almost $540 million final 12 months and are more likely to solely preserve rising.

According to The Information, OpenAI’s losses doubled because it developed ChatGPT and employed key staff from Google.

“The beforehand unreported determine displays the steep prices of coaching its machine-learning fashions throughout the interval earlier than it began promoting entry to the chatbot,” the report noted.

OpenAI in February this year launched the new subscription plan, ChatGPT Plus, that is available for $20 a month.

However, the report mentioned that even if the revenue picks up, OpenAI’s losses are likely to keep rising as “more customers use its artificial intelligence technology and the company trains future versions of the software”.

OpenAI CEO Sam Altman has “privately prompt OpenAI might attempt to elevate as a lot as $100 billion within the coming years to attain its purpose of creating synthetic normal intelligence (AGI) that’s superior sufficient to enhance its personal capabilities”.

Elon Musk, Twitter CEO and an early investor in OpenAI, tweeted late on Saturday: “That’s what he (Altman) told me”.

Musk, who has criticised OpenAI a number of occasions, final month created a brand new firm known as X.AI which can promote AI within the ChatGPT period.

It was Musk who initially invested $100 million in OpenAI, however later exited the corporate.

In latest months, ChatGPT and GPT-4 have turn out to be a rage worldwide.

OpenAI just lately closed a greater than $300 million share sale at a valuation between $27-$29 billion, in response to studies.

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(This story has not been edited by News18 workers and is printed from a syndicated news company feed)